North America LiDAR Market - Growth, Trends, and Forecasts (2020 - 2025)
The North America LiDAR market is segmented by Product (Aerial LiDAR, Ground-based LiDAR), Component (GPS, Laser Scanners, Inertial Measurement Unit), End-User ( Engineering, Automotive, Industrial, Aerospace & Defense)
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Scope of the report
Key Market Trends
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The North American LiDAR market is expected to grow at the CAGR of 27.6% during the forecast period of 2020 to 2025. Moreover, The growing trends in the automotive industry toward self-driving cars and electric vehicles are expected to be the critical drivers for newer applications of LiDAR.
North America is one of the major developers of the technology, owing to increasing investments in accelerating innovations in the LiDAR landscape. These types of LiDAR systems are adopted by a growing number of industries, especially for application in engineering, construction, environment, and exploration, proving the effectiveness and, therefore, demand for this technology.
Additionally, the growing demand for platooning in the North American region is also influencing the growth of this market. Followed by Georgia and Tennessee, Arkansas, North Carolina, South Carolina, and Texas have made commercial platooning legal, which enables freight companies, like FedEx, to conduct more fuel-efficient operations. As platooning needs technologies like LiDAR, it is therefore expected to contribute to the region’s dominance in the automotive space for LiDAR technology.
According to the US Department of Transportation Data, 51% of freight miles within the country are available in states that have approved commercial truck platooning. LiDAR technology is used in Unmanned Aircraft Systems (UAS), and the US military and civil government are increasing their operations for UAS, which can increase the growth of this market.
Moreover, the ground-based LiDAR systems are witnessing growth, owing to factors such as low cost and their increasing applications in SUV. The ground LiDARs provide an exceptional ability to produce 3D images of land in coastal and other areas, as well as ground movements, such as landslides.
Furthermore, the ongoing COVID-19 pandemic has led to the lockdown in all over the world. Hence this lockdown situation has disrupted the exports of automotive parts and the large scale of manufacturing interruptions in the US. However, high costs associated with the deployment of this technology is restraining the growth of this market, and many manufacturers are looking for substitutes that could replace the functionality of LiDAR systems using RADAR and other optical sensors. Hence these factors can restrain the growth of this market.
Scope of the report
The LiDARs are also used for tracking low flying aircraft, as they can perform efficiently in all weather conditions and can accurately calculate the dimension and distance of the target. Moreover, The North American LiDAR market is segmented by Product, Component, End-User. Moreover, its Component segment is further segmented into GPS, Laser Scanners, Inertial Measurement Unit , and Other Components.
Inertial Measurement Unit
Aerospace & Defense
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Key Market Trends
The Demand for Advanced Global Positioning System (GPS) will Drive the Growth of this Market
Global Positioning System (GPS) is a satellite-based radio navigation technology, and it is one of the essential components of a LiDAR system, which helps to determine an object’s latitude, longitude, and height (altitude) in terms of 3 co-ordinates, while mounted on an airplane or vehicle One of the major advantages of GPS on the LiDAR system is the ability to remotely map the dangerous or inaccessible areas, by suppressing the challenge from ground control points.
Navigation based GPS applications enable end-users to optimize their daily schedules by offering features, such as shortest path selection, approximate time to reach the destination, presence of traffic, and roadblocks along with the goal, among others. Moreover, owing to the technological advancements and capabilities of mobile devices, there is a fast growth for geospatial computing in the automotive sector, which requires GPS data.
Additionally, the growing demand for sophisticated sensors systems (satellite systems - GNSS/GPS) and the portable nature of the devices which can capture geospatial data and processing are also influencing the growth of the market. However, the creation of maps is one of the major applications of the LiDAR systems, where GPS plays a prominent role in its high accuracy and resolution.
Major Vendors in this market are also using innovative strategies to gain some competitive advantage over its other competitors. For instance, In February 2020, Livox Technology Company introduced two high-performance, mass-produced lidar sensors, the Horizon and Tele-15, which feature a new scanning method that offers improved sensing performance at a low cost. They are designed for L3/L4 autonomous driving and mapping using GPS.
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Automotive Industry will hold the Largest Market Share for this Market
LiDAR has been recently incorporated into the development of a pre-scan system, which assesses the surface of the road through a pulse laser to establish ideal suspension levels to ease the driving experience of the consumer. Moreover, this provides the smoothest ride by preparing the tires to react in the imperfections in the road and alerts the presence of potholes and other obstacles to the driver.
LiDAR is primarily used for the advanced driver assistance systems (ADAS) in the automobiles for the convenience of the driver, with a human-machine interface for safe guidance and smooth operation. The autonomous nature of the vehicle needs considerably high accuracy and assistance for the obstacle detection for avoidance and safe navigation through the roadways.
According to the Insurance Information Institute, the total number of traffic deaths in the United States was 36,120 in 2019. Hence, Federal Motor Carrier Safety Administration is committed to accelerate the deployment of ADAS technologies in four categories which includes active braking systems, active steering systems, active warning systems and camera monitoring system. These types of government initiatives will defiantly support the growth of this market.
Moreover, the growing demand for Electric vehicles is also influencing the growth of this market. In 2019 the US Department of Transportation’s (USDOT) Federal Transit Administration announced USD 84.9 million in grant selections through the Low- or No-emission (Low-No) Grant program. It will fund the deployment of transit buses and infrastructure that use enhanced propulsion technologies, which are fuelling the growth of this market.
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The LiDAR market is fragmented due to the presence of many large and small vendors in this market. The major vendors are investing in their research and development sections to gain a competitive advantage from its other competitors. Some major vendors for this market are Sick Ag, Quanergy, Phantom Intelligence, Neptec Technology, etc.
March 2020: Velodyne Lidar Inc announced a multi-year sales agreement with NAVYA, a leading company in autonomous driving systems. NAVYA plans to pursue the worldwide expansion of its shuttle with Velodyne’s state-of-the-art sensors for precise real-time localization and object detection.
December 2019: Quanergy introduced the industry-first solid-state LiDAR-based access control, and people counter products for physical security and smart space applications. According to Quanergy, The new product line features Quanergy’s 3D AI-powered perception software, QORTEX™, combined with the S3-2, the industry’s first 100% solid-state LiDAR sensor for building access control and people counting.